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Tax on Kisan Vikas Patra

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rohith asked over 3 years ago

Tax on Kisan Vikas Patra

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2 Answers
Open uri20170510 32134 ng4pv?1494421709 SONIYA answered over 3 years ago

There is no Tax benefit for investment in Kisan Vikas Patra which makes it a less lucrative investment .Amount invested in the Kisan Vikas Patra cannot be claimed as deuction U/S 80C . Interest on KVP is taxable on accrual basis and will be taxed as Income from Other Sources on the basis of slab rates . TDS is not deductible on Interest on KVP.

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Picsjoin 2017224123730582 Archana answered over 3 years ago

Hie Rohith, There is no incentive for investment in KVP and Interest on **KVP is taxable on accrual basis and will be taxed as Income from Other Sources**. deduction under section 80C is not allowed on this investment. TDS is not deductible on Interest on KVP .

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